With the Reserve Bank (RBNZ) expected to increase the Official Cash Rate (OCR) by up to 75 basis points on Wednesday it's worth noting something significant. In contrast, the OCR has certainly been lowered by more, much more, than 50 basis points. That's 325 basis points of increases so far since the beginning of this 'tightening cycle', with 275 basis points coming in 2022 so far. That's already a record amount in one calendar year, with 50 basis points increases in each of April, May, July, August and October, and 25 basis points in February. But a 75 basis points OCR increase, should it happen on Wednesday, November 23, would be unprecedented.

Source: Stuff November 20, 2022 03:19 UTC